Final answer:
The approximate future value is $52,533.60.
Step-by-step explanation:
To calculate the future value of an investment with compound interest, we can use the formula:
A = P(1 + r/n)^(nt)
Where:
- A is the future value
- P is the principal amount
- r is the annual interest rate (in decimal form)
- n is the number of times the interest is compounded per year
- t is the number of years
Plugging in the given values from the question, we have:
A = 18100(1 + 0.136/4)^(4 * 7.5)
Calculating this gives us an approximate future value of $52,533.60.